It’s finally here, rentals are finally on the Regional Multiple Listing Service of Minnesota, or better know as “the MLS”. This move will make rentals much easier to find, and much easier to rent – a mvoe I’ve been advocating for, for the last 4 years!
Soon, we will have rentals searchable from our own site, but for now it’s a call or email feature. We need to give our web vendors some time to adjust to the new system.
And in case you are wondering… Today is the first day rentals went live in the MLS, and there’s only one property available in all of St Paul 
Expect that to change very quickly!
That’s nice. How does listing a rental work? How much does it cost?
A rental listing is much like a “For Sale” listing. There’s an exclusive leasing form the property owner fills out, then it’s up to the Broker and the client to set the price. I can’t say what other companies charge, but I charge 75% of the first’s month rent for a non-mls rental listing and 100% of the first months rent for a mls listed lease.
If you want us to manage the property after the lease (no phone calls from tenants, no hassles, just a check in the mail) we charge 7% of the monthly rent ongoing.
Hmmm, I may be taking advantage of your services in a few years. How’s the rental market for condos!
Sounds much better than other Property Management companies offer. Thanks.
@Scott – Rental market’s not bad at all. But you can’t set rent on what you mortgage is. Just like you can’t sell sometimes for what owed on your mortgage. I can tell you we just rented a 1400sf loft in Lowertown for $1495 a month though.
Good to know, hope the rental market stays as strong a few years from now. My sq footage is comparable and I’d be happy to be within ~$200 of that rental price.